Pepe price retreated from its market range peak of $0.00000870. However, the frog-themed coin continues to hold above the 50% Fibonacci retracement level at $0.00000479. The market continues to be bullish on the upside, with an increase in the relative strength index (RSI) indicating that momentum is still on the rise.The Moving Average Convergence Divergence (MACD) and the Momentum Oscillator (AO) are showing a large number of green bars, indicating the strong presence of bulls in the PEPE market.Increased buying pressure could push Pepe price back towards the $0.00000870 peak, with the potential for a breakout and higher highs. In a highly bullish case, PEPE price could break above the $0.00000900 barrier and drop to $0.00001000. Such a move would represent a 37% upside from current levels.On the other hand, if traders cash in on their gains so far, Pepe price could drop, potentially revisiting the 50% Fibonacci level. A break and close below $0.00000479 levels would invalidate the bullish argument.Note that the RSI is at 94, indicating that PEPE is severely overbought, which increases the likelihood of a pullback.Still, with PEPE facing high risk of a pullback, consider PEEN, which surged 335% after listing on decentralized exchange (DEX) Uniswap on March 5. Still the same, bull market spot, don’t know what’s lurking, just click on the beginning and follow me like
